Determine the discount rate

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Problem - Consider a $1,000-par-value Bond with the following characteristics: a current market price of W61, 12 years until maturity, and an 3% coupon rate. We want to determine the discount rate that sets the present value of the band's expected future cash-flow stream to the band's current market price. You are required to determine the discount rate that equates the present value of the bond?

Reference no: EM132848960

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